News Releases

TRW Automotive Completes Credit Agreement Refinancing

Dec 21, 2004

TRW Automotive Holdings Corp. (NYSE: TRW) today reported that it successfully completed its previously announced credit agreement refinancing. The Company refinanced $1.7 billion of its existing $2.0 billion credit facilities with $1.9 billion of new credit facilities. The new facilities consist of a $900 million revolving credit facility, a $400 million tranche A term loan facility and a $600 million tranche B term loan facility. As expected, the Company retained a $300 million tranche E term loan facility that it closed during November of this year. The additional availability under the new facilities resulted from the increase in the amount of the revolving credit facility. The Company also amended certain other terms of the secured credit facilities, which together with the increased amount of available liquidity, improves the Company's financial flexibility.

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Proceeds from the new credit facilities will be used to refinance the existing credit facilities and to pay fees and expenses related to the financing. The initial draw under the new credit facilities is expected to occur in January of 2005.

About TRW

With 2003 sales of $11.3 billion, TRW Automotive ranks among the world's top 10 automotive suppliers. Headquartered in Livonia, Michigan, USA, the Company, through its subsidiaries, employs approximately 61,000 people in 24 countries. TRW Automotive products include integrated vehicle control and driver assist systems, braking systems, steering systems, suspension systems, occupant safety systems (seat belts and airbags), electronics, engine components, fastening systems and aftermarket replacement parts and services. All references to "TRW Automotive", "TRW" or the "Company" in this press release refer to TRW Automotive Holdings Corp. and its subsidiaries, unless otherwise indicated. TRW Automotive news is available on the Internet at .

Forward-Looking Statements

This release contains statements that are not statements of historical fact, but instead are forward-looking statements. All forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those contained in forward-looking statements made in this release. Such risks, uncertainties and other important factors which could cause our actual results to differ materially from those contained in our forward-looking statements are set forth in the TRW Automotive Holdings Corp. final prospectus dated as of February 2, 2004 (the "Prospectus") filed with the Securities and Exchange Commission (the "SEC") pursuant to Rule 424(b)(4), our Report on Form 10-K for the fiscal year ended December 31, 2003 (the "10K"), and our Reports on Form 10-Q for the quarters ended March 26, June 25, and September 24, 2004, and include: our substantial leverage; the highly competitive automotive parts industry and its cyclicality; pricing pressures from our customers; increasing costs for purchased components and raw materials; non-performance by, or insolvency of, our suppliers; product liability and warranty and recall claims; our dependence on our largest customers; limitations on flexibility in operating our business contained in our debt agreements; increases in interest rates; fluctuations in foreign exchange rates; the possibility that our owners' interests will conflict with ours; work stoppages or other labor issues and other risks and uncertainties set forth under "Risk Factors" in the Prospectus, in the 10-K and in our other SEC filings. We do not intend or assume any obligation to update any of these forward-looking statements.

Photo: NewsCom: AP Archive: PRN Photo Desk, SOURCE: TRW Automotive Holdings Corp.

CONTACT: Investor Relations Contact: Patrick R. Stobb, +1-734-853-6966, or Media Contact: Manley Ford, +1-734-855-2616, both of TRW Automotive Holdings Corp.

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